Market Update: PLTR, AVGO, and SBUX Up. LMT, INTC, NUE, and TMUS Down.

The stock market is up slightly today due to lower-than-expected inflation. However, the market is not up as sharply as many would have thought, since President Donald Trump said that tariffs on China would be at 55% in a “done” trade deal that is awaiting final approval from him and President Xi.

These tariffs are much higher than expected on China, since the average tariff rate was expected to be in the teens after the deal. 55% seems so high that many have even considered it unlikely. As a result, the S&P 500 is still in the red, though comments from Bessent and Lutnick could drag it down. Lutnick says a fentanyl halt is not on the table, which means that the 20% “Fentanyl Tariffs” on China will also stick.

Here’s a market update as of 11:30 AM (ET) today.

• The S&P 500 is up 11.86 points, or 0.2%.
• The Nasdaq Composite is up 45.75 points, or 0.23%.
• The Dow Jones Industrial Average is up 145.6 points, or 0.34%.

Big-Cap Movers Today

• Palantir (NASDAQ: PLTR) is continuing on a very bullish trajectory and is up 3.5%.
• Broadcom (NASDAQ: AVGO) is up 3%. This is more of a recovery, since it is rebounding from a decline post-Q2 earnings.
• Starbucks (NASDAQ: SBUX) is up 3.3% as it is considering the sale of a minority stake in its China business.

On the other hand,

• Lockheed Martin (NYSE: LMT) is down 5.4% after the Pentagon halved its request for Air Force F-35s.
• Intel (NASDAQ: INTC) is down 4.7% after an 8% bump yesterday.
• Nucor (NYSE: NUE) is down 5% due to a potential tariff deal with Mexico.
• T-Mobile (NASDAQ: TMUS) is down 2.4% as the company’s CEO could be leaving earlier than expected.

Notable Gainers Today

• Quantum Computing Inc (NASDAQ: QUBT) is up 27.6% due to a sector-wide quantum computing rally. Nvidia’s (NASDAQ: NVDA) CEO said the technology is reaching an inflection point, within reach of areas that can solve interesting problems.
• Ouster (NASDAQ: OUST) is up 26.2% after the Pentagon approved lidar sensor for UAVs.
• Oklo (NYSE: OKLO) is up 26.5% due to news of a new U.S. Air Force contract. The U.S. military has asked the company to deploy its Aurora nuclear powerhouse at the Eielson Air Force Base outside Fairbanks, Alaska.
• NuScale Power (NYSE: SMR) is up 19.4% due to sector-wide bullishness for nuclear stocks.
• Sailpoint (NASDAQ: SAIL) is up 17.5% after earnings. Revenue surpassed expectations, and it posted an adjusted profit, whereas analysts expected a loss.

Notable Losers Today

• American Superconductor (NASDAQ: AMSC) is down 14.7% after pricing $115.5 million in a public stock offering.
• Karat Packaging (NASDAQ: KRT) is down 13.3% after insiders sold 1.5 million shares in a $40.5 million secondary stock offering.
• Cognyte Software (NASDAQ: CGNT) is down 12.4%. EPS and revenue both surpassed estimates, and EPS guidance was also good for the fiscal year. However, its FY 2026 revenue guidance of $395 million came in lower than the $392 million analyst consensus.
• Chewy (NYSE: CHWY) is down 9.8% after reporting a Q1 earnings miss, overshadowing its revenue beat.
• MP Materials (NYSE: MP) is down 8.7% due to Trump’s post on reaching a trade deal with China.

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